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AFRICOAST ENERGY LAUNCHED
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AFRICOAST ENERGY LAUNCHED

FOLLOWING significant growth in the renewable energy business, 
AfriCoast Engineers SA has developed a sister company to exapnd
its vision.
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IMF cuts South Africa’s growth outlook amid mounting war-linked energy crisis

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The International Monetary Fund (IMF) has cut its 2026 growth projection for the South African economy to only 1% from a January projection of 1.4%, as it warned that the outbreak of war in the Middle East threatened to throw the global economy off course and exact a high economic toll on many oil-importing countries. The IMF has also reduced the growth outlook for sub-Saharan Africa to 4.3% from 4.6%.

Diesel fuel costs, weaker rand to place pressure on inflation, export-competitiveness

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Financial brokerage and asset management firm EBC Financial Group (EBC) warns that the R3-a-litre levy cut will provide relief only for a month, while Brent-linked diesel costs and a weaker South African rand will continue to put pressure on inflation and South Africa’s export competitiveness. Official price calculations show why the levy cut is not designed to be a permanent offset when global inputs move quickly, the firm says.

Emira makes offer for a further 14.73% of Octodec’s shares

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JSE-listed real estate investment trust (Reit) Emira Property Fund has made a voluntary offer to shareholders of fellow listed Reit Octodec Investments to increase its shareholding in Octodec to 34.9%. The company has successfully acquired of 20.17% of Octodec’s ordinary shares through a series of off-market transactions.

Multi-country hydrogen-based iron-ore-to-green-steel breakthrough in Namibia

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A green hydrogen breakthrough in Namibia is opening the way for decarbonised steel using iron-ore of considerably lower grade. In an electrically powered hydrogen rotary kiln, 80 t of Australian iron-ore has been converted in climate‑neutral fashion into direct‑reduced iron (DRI) using ore with an iron content of around 56%, which is well below the typical 70% – and without the usual energy-intensive pelletising.
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